Do Kwon Shares Plan To Save UST Peg, Australian Bitcoin ETF Goes Live This Week, Continental Diamonds Accepts Bitcoin For Jewelry Purchases
Do Kwon Shares Plan to Save UST Peg
After 15 hours of silence, Terra founder, Do Kwon, outlined the plan to rebuild the Terra Ecosystem and save the algorithmic UST stablecoin peg on a Twitter thread this Wednesday. TerraUSD (UST) fell to $0.22, while LUNA plummeted to $0.69, a 99% nosedive from its all-time-high of $119.
“Terra’s focus has always oriented itself around a long-term time horizon, and another setback this May, similar to last year, will not deter the #LUNAtics. Short-term stumbles do not define what you can accomplish. It’s how you respond that matters,” said Kwon.
The UST de-pegging saga has attracted heavy criticism from the cryptocurrency community and regulators, including Janet Yellen, the United States Secretary of the Treasury.
Australian Bitcoin ETF Goes Live This Week
The Cboe Australia, a regulated stock exchange, announced that the Cosmos Purpose Bitcoin Access ETF will go live on Thursday, May 12th. The ETF was initially scheduled to go live on April 27th but was delayed due to ongoing standard checks.
ETFs (exchange-traded funds) provide traditional investors with exposure to the cryptocurrency market through regulated products offered by investment firms. It is an alternative way of investing in Bitcoin without holding the cryptocurrency asset.
It will be the first Bitcoin ETF launched in Australia, a milestone for cryptocurrency adoption. Speculators say that an estimate of $1 billion will flow into the cryptocurrency market.
Continental Diamonds Accepts Bitcoin for Jewelry Purchases
Continental Diamond, a Minnesota-based jewelry store, will start accepting Bitcoin for a payment method for jewelry purchases. The company partnered with BitPay, a bitcoin payment service provider, to provide a seamless experience for customers.
"We've always been more than a jewelry store. We are constantly innovating and creating an oasis you can't wait to come back to," said Jimmy Pesis, Continental Diamond co-owner and president. "Accepting cryptocurrency seemed like a natural next step to adapt to the changing behaviors and preferences of our customers."
Written by Lindi Miti © Crypto University 2022
Share Transmission
Broadcast this signal to your network
More News
SEC and CFTC Landmark Interpretation: “Most Crypto Assets Are Not Securities” and What the New Token Taxonomy Changes for Users
In 2026, SEC and CFTC clarified most crypto assets aren't securities, introduced token taxonomy, and provided guidance on staking, airdrops, mining, and wrapping for better regulatory clarity.
The March 2026 FOMC Meeting: How the Fed’s Rate Decision, Dot Plot, and Powell’s Tone Can Swing Crypto Markets
A practical explainer of the March 2026 FOMC decision, dot plot, and Powell’s tone, and why liquidity and risk appetite move Bitcoin and crypto.
Bitcoin’s Surge Past $74,000: How Spot ETF Inflows and Institutional Buying Are Fueling the 2026 Rally
Bitcoin moved above $74,000 amid spot ETF inflows and institutional demand. Learn how spot ETFs work, what flows mean, and key on-chain context.